Citi CEO Pandit: Hopes for Significant Capital Returns in 2013

Sep 28, 2011 9:28 am ET

By Sam Holmes and Ken Brown

Citigroup Chief Executive Vikram Pandit said Wednesday investors would see the results of his expansion plans and that he expects to be able to return significant amounts of capital to shareholders in the coming years.

In an interview in Singapore with Dow Jones Newswires, Pandit was upbeat about the bank’s prospects in emerging markets, saying he expects their growth to continue.

Pandit was also optimistic about the European financial crisis, though he said the developed economies would likely suffer a prolonged slowdown. Pandit and Citi’s directors are in Singapore this week for their first-ever board meeting in Asia to draw attention to its big push into retail banking in Asia.

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